Altair Engineering (NASDAQ:ALTR) Issues Quarterly Earnings Results

Altair Engineering (NASDAQ:ALTR) posted its quarterly earnings data on Thursday. The software reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.15), Zacks reports. Altair Engineering had a return on equity of 7.49% and a net margin of 5.10%.

Altair Engineering Stock Performance

ALTR stock traded up $0.53 during mid-day trading on Thursday, hitting $111.78. 886,505 shares of the company were exchanged, compared to its average volume of 791,149. Altair Engineering has a 1-year low of $75.71 and a 1-year high of $113.12. The stock has a market capitalization of $9.51 billion, a PE ratio of 294.17, a price-to-earnings-growth ratio of 10.69 and a beta of 1.42. The business has a 50 day simple moving average of $109.68 and a 200-day simple moving average of $101.12. The company has a current ratio of 3.27, a quick ratio of 3.27 and a debt-to-equity ratio of 0.27.

Insider Activity

In other Altair Engineering news, CEO James Ralph Scapa sold 13,000 shares of Altair Engineering stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $105.69, for a total value of $1,373,970.00. Following the completion of the sale, the chief executive officer now owns 134,045 shares in the company, valued at $14,167,216.05. The trade was a 8.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Matthew Charles Brown sold 1,048 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $108.90, for a total transaction of $114,127.20. Following the transaction, the chief financial officer now owns 55,519 shares in the company, valued at approximately $6,046,019.10. The trade was a 1.85 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 59,143 shares of company stock valued at $6,265,694. 21.75% of the stock is owned by insiders.

Analysts Set New Price Targets

ALTR has been the subject of several recent analyst reports. Loop Capital reissued a “hold” rating and issued a $113.00 price objective on shares of Altair Engineering in a report on Thursday, October 31st. Rosenblatt Securities increased their price target on shares of Altair Engineering from $88.00 to $113.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Royal Bank of Canada boosted their price objective on shares of Altair Engineering from $90.00 to $113.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 31st. Needham & Company LLC reiterated a “hold” rating and issued a $100.00 target price on shares of Altair Engineering in a research note on Thursday, October 31st. Finally, Wolfe Research cut Altair Engineering from a “strong-buy” rating to a “hold” rating in a report on Sunday, November 3rd. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $100.71.

About Altair Engineering

Altair Engineering Inc, together with its subsidiaries, provides software and cloud solutions in the areas of simulation and design, high-performance computing, data analytics, and artificial intelligence in the United States and internationally. It operates in two segments, Software and Client Engineering Services.